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_This work contributes to entrepreneurship research and offers practical implications for entrepreneurs and entrepreneurship promotors by critically analyzing a networked approach to value creation processes of young knowledge-intensive entrepreneurial firms and assessing precise strategies and tactics for entrepreneurial firms to exploit these structures. In this context the concept of co-innovation competence is introduced and empirically analyzed. Results indicate that entrepreneurs follow a specific approach towards networking minimizing transaction costs taking an on-demand-based perspective of networking. In this case entrepreneurs may relate to regional innovation promotors and also reach beyond regional structures to explore suitable partners and exploit structural holes.

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_Open-Innovation.- Regional Innovation Systems.- Entrepreneurial Networks.- Social Capital Promotors.

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Benedict C. Doepfer holds a Ph.D. in Business Administration and is a research affiliate to the Center for Entrepreneurship of the Catholic University Eichstaett-Ingolstadt.

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